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08 July 2019
The Energy Regulatory Commission (CRE) has received clearance from the Federal Commission for Regulatory Improvement to publish the general administrative provisions (GAPs) that set out the Guidelines for the Statistic Registry of Commercial Transactions Arising from Regulated Activities Performed with Natural Gas and Oil. The CRE had previously issued similar administrative guidelines to report transactions with liquid petroleum gas and petroleum products.
The GAPs establish the Natural Gas and Oil Commercial Transactions Registry System (SIRETRAC) and provide new reporting obligations for permit holders that perform any of the following regulated activities with natural gas or oil:
Activities performed with condensates, natural gas liquids and methane hydrates will not be reported.
The SIRETRAC will be an electronic system operated by the CRE in which permit holders and contractors will report the sales and purchases of natural gas and oil performed all along the value chain. The reports:
The SIRETRAC will be activated at each permit holder's CRE electronic parts office account:
The obligation to submit reports will be effective 15 business days after the publication of the GAPs in the Official Gazette.
The CRE has the authority to verify compliance with the GAPs and may impose the penalties provided in the Hydrocarbons Law on those permit holders and contractors that do not report accordingly. The Hydrocarbons Law and the GAPs do not provide a specific penalty, but failure to report in SIRETRAC may be considered either:
The application of penalties will depend on the:
For further information on this topic please contact Carlos Ramos Miranda or Perla Gizeh Díaz Taracena at Hogan Lovells BSTL SC by telephone (+52 55 5091 0172) or email (firstname.lastname@example.org or email@example.com). The Hogan Lovells BSTL SC website can be accessed at www.hoganlovells.com.
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